Prudential shutters TA dept and......

[tomcole]

Probably no direct or quantifiable P&L - thats a sure way to get fired these days.

 

[areyoukidding?]

trimming the fat

 

[Free Thinker]

Quote from Surdo:

Ralph is one of the last few talking heads worth listening to.
His TA class is well worth taking for newbies.

his nickname was wrong way ralph for a reason.

 

[Choad]

I see a Head and Shoulders pattern forming for TA gurus!

 

[Thunderdog]

Being familiar with, or "expert" in, technical analysis but not having a specific and complete trading strategy in place to exploit that knowledge is a lot like being all dressed up with no place to go. No?

If the man didn't trade, what was his value to the firm? Traders don't depend on someone else's interpretation of technical analysis; only fools do. Relying on someone else's generic analysis means that you have no method of your own.

 

[hypostomus]

I have been tempted to fire my in-house TA department many times.

 

[hcour]

Chart readers..lol... do they have stargazers too? Voodoo priests?

Goodness. Is this old chesnut still around? Sheesh. On a trading site, nonetheless.

TA is voodoo science! What a tired cliche.

If you're gonna blindly trash TA at least try to couch your ignorance in some originality.

Harold

PS - Don't forget to renew your subscription to the Flat Earth Society. You wouldn't wanna be left behind.

 

[EPrado]

Quote from Thunderdog:

Being familiar with, or "expert" in, technical analysis but not having a specific and complete trading strategy in place to exploit that knowledge is a lot like being all dressed up with no place to go. No?

If the man didn't trade, what was his value to the firm? Traders don't depend on someone else's interpretation of technical analysis; only fools do. Relying on someone else's generic analysis means that you have no method of your own.

Exactly. Great post. You can study charts and know every technical analysis strategy in the universe, but trading them is a different game. I always wondered why people with tout services/letters didnt just trade since their calls were so good, and not sell such "valuable"info.

 

[hcour]

Exactly. Great post. You can study charts and know every technical analysis strategy in the universe, but trading them is a different game.

Exactly. Great post.

I think one of the first things one learns after studying TA for X amount of time and then actually starting to trade, is that TA is only part of the formula. It can be a rude awakening.

H

 

[mahras2]

I actually like the fact that people are moving away from TA. TA only works when others are NOT following TA. So let the other traders trade on funny mentals while I stick to my Technical analysis.